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Genting Hong Kong completes $550m acquisition of Crystal Cruises

05/19/2015| 5:38:09 PM|

Genting Hong Kong has completed the acquisition of Crystal Cruises from Nippon Yusen Kabushiki Kaisha for a total transaction of US$550 million.

Genting Hong Kong has completed the acquisition of Crystal Cruises from Nippon Yusen Kabushiki Kaisha for a total transaction of US$550 million.

GHK also announced a new chairman of Crystal and promotions for Crystal’s current senior management team, guaranteeing a streamlined transition and virtually no interruption in operations and ensuring award-winning service.

Tan Sri Lim Kok Thay, executive chairman of the Genting Group and the former chairman of Norwegian Cruise Line, assumes the position of chairman of Crystal, replacing Nobuyoshi Kuzuya who will return to NYK in a key executive position.

Edie Rodriguez, a 34-year travel industry veteran who was previously president and chief operating officer will be promoted to president and chief executive officer.

Thomas Mazloum, a 20-plus year veteran of Crystal’s management team who was previously executive vice president will be promoted to chief operating officer.

“Genting Hong Kong is delighted and honoured to add Crystal to our global hospitality and leisure brands,” said Tan Sri Lim Kok Thay.

“The current management team and crew will continue to lead Crystal’s six-star operation while Genting will provide the financial resources and proven expertise in innovative ship design to deliver a new ultra-luxury ocean vessel by 2018.”

Established in 1993, GHK is part of the Genting Group, a global hospitality and leisure company with business in over 20 countries, including the United States in New York, Florida and Nevada.

GHK wholly owns Star Cruises and is a major shareholder of Norwegian Cruise Line.

GHK is a public company primarily listed on the Hong Kong Stock Exchange and secondarily on the Singapore Stock Exchange.

“We are extremely grateful for the unwavering support of our former parent company, NYK and the wonderful leadership and guidance of Mr Kuzuya,” said Rodriguez.

“We look forward to ushering in a new era of luxury cruising with Genting Hong Kong.

“With the support of GHK and its reputation for creating world-renowned leisure, entertainment and hospitality properties, Crystal is set to embark upon new opportunities that will expand our offerings for our guests and travel partners, as well as broader opportunities for our wonderful team of Crystal employees on land and at sea.”

Crystal Cruises’ first award-winning luxury vessel, Crystal Harmony embarked in 1990, with sister ships Crystal Symphony and Crystal Serenity joining the fleet in 1995 and 2003, respectively. 

Since Crystal Harmony’s retirement in 2005, the line has operated its enriching global itineraries with the two remaining ships, often pioneering cruise ship access to ports and experiences throughout the world.

Continuing innovative momentum, in 2016, Crystal will be the first large luxury cruise line to navigate the elusive Northwest Passage, while in 2018, the cruise line will expand its coveted World Cruise portfolio with four separate global itineraries.

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TAGS: Genting | Hong Kong | Crystal Cruises
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